BUSINESS NEWS
September 07, 2012 12:00:00 AM
  Follow @ Twitter

The South Pacific Stock Exchange (SPSE) today witnessed the largest transaction in its history with consideration of $108,636,250 being traded.

The trade was executed in Fosters Group Pacific Limited (FGP) after Coca Cola Amatil (Fiji) Limited acquired 89.59 per cent shareholding in the listed company from Fosters Australia Limited (FAL).

The transaction was effected through a special crossing trade at a price of $11.65 with 9,325,000 shares exchanging hands.

SPSE chief executive Jinita Prasad said “the Exchange has witnessed fairly large corporate actions being carried out in the market but this transaction is by far the most substantial single trade that has been executed since inception.”

She also highlighted that witnessing a corporate action of such a magnitude being facilitated on our local stock market reiterates the fact that we continue to develop and are well positioned to be a key player in the financial market.

SPSE Rules and the Reserve Bank of Fiji (RBF) regulations ensured that the deal was executed in a transparent manner and interest of minority shareholders was given paramount importance.

This trade has supplemented the overall trading activity for 2012 with year to date trade volume and value at the end of this morning’s trading session now standing at 16,433,221 and $117,157,021 respectively.

Since this trade has been effected as a special crossing transaction, the last trade price for FGP remains unchanged at $13.14.

By Ropate Valemei


 

Wiggle


PREVIOUS STORY
Fosters Group appoints new directors
NEXT STORY
BAF to work with Australia on pests

Bookmark and Share
   




FIJI NEWS
Sportsperson charged with briberyAn upcoming sportsperson who tried to bribe his way past a customs officer in Nadi last week with $500 appeared in a magistrate court in Nadi today charged with one count of bribery and one count of providing false and misleading documents.
WORLD
'Green'-tinted SUVs at Seoul Motor ShowGas-guzzling SUVs, eco-friendly electric cars and the odd brave attempt to marry the selling points of both are taking centre stage at the biennial Seoul Motor Show.
TECHNOLOGY
Vodafone Fiji, Tonga telco in allianceVodafone Fiji and Tonga Communications Corporation today signed a strategic partnership alliance that will allow the Tongan company to leverage off the experience of their Fijian counterparts.
HEALTH/FITNESS
Clean-up day to curb dengue outbreakFiji's Ministry of Health has declared a clean-up day next Thursday for residents in the central division as it ups the tempo against a dengue fever outbreak currently experienced in the country.
SPORTS
Sportsperson charged with briberyAn upcoming sportsperson who tried to bribe his way past a customs officer in Nadi this week with $500 appeared in a magistrate court in Nadi today charged with one count of bribery and one count of providing false and misleading documents.
ENTERTAINMENT
Logicís debut album Under Pressure out Oct 24After years of hard work in the studio and on the road, Logic has completed his debut album with Under Pressure due to release October 24, with the title track, Under Pressure, is now available.
NEWS SPORTS INFOTAINMENT SERVICES MOBILE EXTRA HOT TOPICS